Buying Real Estate in Utah with Adam Lancaster: Cost-Saving Strategies & Risk Mitigation Tips
At Kasteel Property Management, we believe success comes from surrounding ourselves with the right people. That’s why our owner and Director of Business Development, Kim Stinson, sat down with Adam Lancaster, one of the top realtors in the nation, to discuss strategies for navigating today’s Utah real estate market. From population growth to creative financing, Utah continues to show strength while offering unique opportunities for buyers and investors.
Why Utah’s Real Estate Market Remains Strong
While many U.S. housing markets have slowed since their 2022 peak, Utah real estate has stayed steady. Adam explained that Utah welcomes roughly 60,000 new residents every year, creating demand for about 20,000 homes. Yet, builders have only produced 12,000–15,000 annually, keeping inventory tight. This supply-and-demand imbalance has prevented home values from dropping significantly, making Utah a competitive and resilient housing market.
Seller Financing in Utah: A Win-Win for Buyers and Sellers
One of the biggest opportunities right now is seller financing in Utah. According to Adam, about 25–30% of his recent transactions used this method. While some buyers view it as risky, seller financing can actually provide lower interest rates and flexible terms that benefit both parties. In fact, some Utah buyers have secured rates as low as 2.5%, similar to historic lows. This approach helps buyers purchase more affordably while giving sellers a reliable way to close deals.
New Construction Homes: Builder Incentives Creating Value
Adam also highlighted the growing opportunities in new construction homes in Utah. For the first time in years, it can sometimes be cheaper to buy new than resale. Builders are offering valuable incentives like interest rate buy-downs, free upgrades, and concessions worth up to 9% of the purchase price. On a $600,000 home, that could equal $60,000 in savings, making new builds an attractive choice for today’s buyers who are concerned about affordability.
Best Utah Investment Properties: Townhomes, Condos, and ADUs
When it comes to long-term value, Adam emphasized that entry-level properties consistently make the best investments. Affordable Utah townhomes and condos remain popular with both buyers and renters, thanks to lower maintenance and desirable amenities like pools and pickleball courts. Lifestyle shifts have many younger buyers seeking convenience over large yards, pushing demand for these properties even higher.
Another top-performing option is homes with accessory dwelling units (ADUs) or basement apartments. These allow owners to generate rental income and offset their mortgage, making them one of the hottest property types in Utah right now.
Multifamily Properties in Utah: Reducing Risk for Buyers
For investors exploring Utah multifamily properties, Adam stressed the importance of securing tenants before selling. Fully rented properties reduce buyer risk and increase demand. Many renters also worry about their leases when a property changes hands, but Adam reminded viewers that rental contracts supersede sales contracts—meaning leases remain valid even if ownership changes. This stability creates confidence for both renters and buyers.
Final Thoughts on Buying Real Estate in Utah
The Utah housing market may look different from the rest of the country, but the opportunities remain strong. Whether it’s through seller financing, taking advantage of builder incentives, or investing in townhomes and ADUs, buyers and investors can still find great deals and long-term value. As Kim and Adam discussed, every transaction carries risks, but with the right professional support, those risks can be successfully managed.
For more insights on the Utah real estate market, visit us at kasteelproperty.com or explore more of our blogs and videos. To keep up with Adam Lancaster’s latest real estate updates, follow him on Instagram @AdamLancaster.
